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Avantium reaches milestones for its FDCA flagship plant

Avantium, a leading technology company in renewable chemistry, has reached commitments for more than 50% of the output of its planned FCDA plant.

Flagship FDCA plant in Delfzijl

Avantium aims to commercialise its proprietary plants-to-plastics YXY® technology. This process is used for the production of FCDA (furandicarboxylic acid), which is the key building block for PEF.  PEF stands for polyethylene furanoate, which is a 100% fossil-free, recyclable polymer .

The planned capacity of this plant is 5 kilotonnes of FDCA per year.

Offtake agreements

Avantium had already reached commercial agreements with:

  • special chemical company Toyobo (Japan)
  • specialty polyester film producer Terphane (USA)
  • beverage bottling company Refresco (Netherlands)
  • a major global food & beverage brand owner (not disclosed)

And is now adding a fifth partner:

  • international rigid plastic supplier Resilux (Belgium)

The offtake agreements represent a total volume of over 50% of the FDCA production capacity of the flagship plant. This marks an important step towards a positive Final Investment Decision (FID) for the construction of the world’s first commercial FDCA plant, which Avantium would plan to open in 2023.

Capital increase

Recently, Avantium successfully raised €28 million trough an accelerated bookbuild offering, which is primarily intended for the flagship FDCA plant in Delfzijl.

Tom van Aken, Chief Executive Officer of Avantium: “We are very pleased with this successful capital increase that is an important component in moving forward towards a Final Investment Decision on the construction of the FDCA flagship plant. We believe that this puts Avantium in a good position to secure the  remainder of the required flagship plant financing. I would like to thank all investors for their trust and confidence in our business and strategy.”

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